Reddit shares surged over 10% on Tuesday, rebounding from a three-day slump, according to CNBC. The rally came as Loop Capital reiterated a buy rating, calling the stock extremely attractive and arguing that its 50% drop over the past month was excessive.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares surged over 10% on Tuesday, rebounding from a three-day slump, according to CNBC.
00:06Rally Cayman's Luke Capital reiterated a buy rating, calling the stock extremely attractive
00:11and arguing that its 50% drop over the past month was excessive. Reddit shares had declined more
00:16than 15% in February after reporting weaker than expected fourth quarter user numbers
00:20due to a temporary Google search algorithm change.
00:23Broader concerns over tariffs and a potential recession have also pressured tech stocks,
00:28with the Nasdaq seeing its steepest decline since 2022.
00:32For all things money, visit Benzinga.com.